...decision was that the trust, having been declared at the time the legal title passed, and (205) being, therefore, an executed or perfected trust, as distinguished from an executory trust, or one...trust, and for this reason Lord Hardwick at one time declared that there was no such distinction as that asserted between executed and executory trusts; but from this position he was forced...substantial difference between executed and executory trusts in this respect, that is, that one is good in favor of a volunteer and the other is not. An executed trust, therefore, if declared at the time...